Setting Up QuickBooks with RetailTime

Setting Up QuickBooks with RetailTime

Overview

RetailTime POS can be integrated with QuickBooks Online. This allows users to automatically synchronize their sales, inventory, and revenue data with your QuickBooks Plus account, eliminating the need for users to manually input data from RetailTime POS into QuickBooks.

 

Requirements

  • Must have RT Freedom/Restaurant/OmniChannel account. 
  • Must have a QuickBooks Plus Account.
  • Currently integrates with RetailTime  in the U.S., United Kingdom, and Australia.
  • Must have unique names for all departments, categories, and items in RT for QuickBooks integration.
  • Under NO circumstances should you disconnect QuickBooks Online from RetailTime and then reconnect. If you do this and perform sync, all RetailTime data in QuickBooks will duplicate.

 

Prerequisites

1. Sign Up for QuickBooks

1. To start using QuickBooks, register at https://quickbooks.intuit.com.

Note: Only registering with a QuickBooks Plus account will allow it to synchronize with RetailTime

2. Log in to your account. 

 

2. Access Chart of Accounts Page

Click on Options--->Chart of Accounts

2. Create Business Accounts

  • On the Chart of Accounts page, you can create business accounts or use existing ones. To integrate properly with RetailTime POS, you will need to have specific Bank, Asset, Income, Liability, and Expense accounts set up. 

1. Click on the button New in the top right corner.

2. Select Account type from the dropdown, then Detail type from the dropdown and enter Account name:



  • When creating a Bank account, select Bank as Account typeand Checking as Detail type.
  • When creating an Asset account, select Other Current Assets as Account type, and Inventory as Detail type - the account will be used for syncing your Inventory.
  • When creating an Income account, select Income as Account type, and Sales of Product Income as Detail type - the account will be used for syncing your Sales.
  • When creating a Liability account, select Other Current Liabilities as Account type, and Other Current Liabilities as Detail type - the account will be used for syncing Tips.
  • When creating an Expense account, select Costs of Goods Sold as Account type, and Supplies & Materials - COGS as Detail type - the account will be used for syncing your Expenses.
  • When creating and Invoice account, select Accounts Receivable (A/R) as Account type, and Accounts Receivable (A/R) as Detail type - the account will be used for syncing Partially paid orders.

 2.1 Optional: for tracking Purchase Orders, please create one more account and select Account Payable as Account Type, and Account Payable as Detail Type.

3. After you have filled out all the necessary data for the account, click on the Save and Close button.

  • The created accounts will be added to the list of all accounts. 

UPDATE as of 01/11/2024: Customers synchronization is now available. Only the customers that have orders assigned are synchronized from BO to QBO.
Please note that QuickBooks does not accept two different customers / customer and employee / customer and vendor sharing the same first name + last name. In case you do have customers/employees/vendors with identical first + last names, please modify one of the names to avoid synchronization errors.

Instructions

1. Go to RetailTime BO ---> Apps --->App Directory in the left navigation menu.

2. Select the QuickBooks app and then click the Connect to QuickBooks button.


3. In the Sign-in pop-up window, enter your Email or user ID and Password that you filled out during the registration on the QuickBooks website.

4. Click on the Connect button.

5. Click Apps--->QuickBooks Online in the left navigation menu.



6. Select the Bank AccountAsset AccountIncome Account, and Expense Account that you set up in QuickBooks. The chosen accounts should be identical to those in the screenshot below. 


7. Determine whether you would like a Scheduled Data Sync to occur between RetailTime and the chosen QuickBooks accounts by checking the box. Then, select the time you would like the sync to occur in the drop-down. Leave the box blank if you would not like such sync. 


Note: Currently, scheduled data sync only works in UTC time zones, which you can check online to map to your local time zone.

  • If new accounts have been created in QuickBooks since connecting QuickBooks with RetailTime, select Fetch QuickBooks Accounts on the top right of the screen. 
8. For tracking Purchase Orders, please check the box next to  Enable Purchase Orders Sync and select Account Payable from the dropdown.
For tracking Payins/Payouts, please check the box next to Enable Payin/Payout Sync and select Income and Expenses accounts accordingly. 

9. Click the SAVE button. 

10. To sync RetailTime with QuickBooks click the SYNC NOW button.


  • Click Details in Synchronized entities to view all the synchronized data.

Note: It is advised to create new taxes in RetailTime, instead of editing them for improved mapping with QuickBooks (otherwise, single taxes in QuickBooks will contain brackets with the tax rate, and combined taxes will contain brackets with the tax rate and tax ID).

‚Äč

Potential Syncing Errors

It is possible there may be errors after synchronization. You can view these errors by selecting Errors (will appear in red) in the Messages column under the Synchronization History section. Once you fix the errors, you may once again select the Sync Now button to re-synchronize. 

Potential errors may occur due to:

  • Syncing large amounts of data during first sync
  • If you are not using a QuickBooks Plus Account
  • If you selected an Account Type that does not integrate with RetailTime (shown above)
  • If a department and category in RetailTime share the same name
  • If you changed your RetailTime store name to one already created in QuickBooks. You can do the opposite and change your QuickBooks store name to match your RetailTime one
  • If you migrated from QuickBooks Desktop to QuickBooks Online, and Item Categories feature is not enabled for your account.

 

1. In the main menu of your QuickBooks account, select Taxes.


2. Click the Use Automatic Sales Tax / Set Up Sales Tax Rate button, and follow the steps provided in Tax setup form:

1 - Enter your business address;
2 - Select your tax agencies: 
*selecting NO will automatically save only one tax agency;
*selecting YES wil give an option to select an additional tax agency.
3 - click Next and wait fot the following screen, then close it with an X in top right:

It will lead you to your Sales Tax Settings screen, where you cab create a new tax:



Choose either to add a Single tax rate or a Combined tax rate by selecting the circle to the left of the option. 


6. Input the Tax nameAgency name, and Rate into the respective fields.

  • You can Edit or Deactivate a tax at any time by selecting those buttons respectively.

7. Select the Save button.

8. In RetailTime Back Office, go to Apps--->QuickBooks Online and then select the SYNC NOW button. 

 

If QuickBooks Security Token Expires

  • It is possible that your security token for QuickBooks could expire. If this is the case, you will be notified on the QuickBooks page in RetailTime, and will be given the option to Reconnect to QuickBooks by selecting the button. The token will then be refreshed. 


  • It is possible you may get logged out of QuickBooks instead. If this is the case, simply log back in and perform a manual sync in RetailTime, and the issue should be resolved.

    • Related Articles

    • Troubleshooting for QuickBooks Connection Error

      Overview In case you get a connection error while activating the QuickBooks application in Back Office (as seen in image below), please follow the instructions below in order to have it activated successfully. Instructions 1. Log in to your ...
    • Table Management Setup in Back Office

      Table Management Setup in Back Office 1. To get Table Management app installed in your Back Office, please contact support@retailtime.com. 2. In the left navigation menu, go to Apps--->Table Management. 3. Select the checkbox next to the store(s) you ...
    • Deactivating Register in Back Office

      Overview Only one person may log in to a register with a specific licence key at once. If someone else wants to log in, they will have to deactivate the register in Back Office and sign in again. Instructions 1. In the left navigation menu, click on ...
    • How to Reset Back Office Password

      Overview If you cannot remember your password when logging in to Back Office at bo.retailtime.com, there are two ways to reset it: either through your email or your PIN #.    Resetting Back Office Password Through Email 1. On the Back Office login ...
    • Pax Terminal Setup on RetailTime POS

      Overview RetailTime works with PAX S300 device. The PAX S300 has an ethernet wire. Requirements Must have Freedom package to use PAX Terminal or any other card reader as a payment processor with RetailTime POS. Pax Terminal Setup in Back Office 1. ...